(M.R. Shah and Krishna Murari, JJ.)
Petition for Special Leave to Appeal (C) No. 12643/2022, decided on October 10, 2022
Assistant Commissioner of Income Tax Circle 6(2)(1) Mumbai and Others _______________________________________ Petitioner(s);
v.
CEAT Limited ___________________________________ Respondent.
(For Admission and I.R.)
Petition for Special Leave to Appeal (C) No. 12643/2022 and WP No. 3363/2019
The Order of the court was delivered by
Order
1. We have heard Mr. Balbir Singh, learned ASG appearing on behalf of the petitioners.
2. It is not in dispute that the assessment was sought to be re-opened beyond four years. Therefore, all the conditions under Section 148 of the Income Tax Act for re-opening the assessment beyond four years are required to be satisfied. Having gone through the reasons recorded for re-opening, we are of the opinion that the conditions precedent for reopening of the assessment beyond four years are not satisfied. The re-assessment was on change of opinion. There are no allegations of suppression of material fact. Under the circumstances, no error has been committed by the High Court in setting aside the re-opening notice under Section 148 of the Income Tax Act. We are in complete agreement with the view taken by the High Court. The Special Leave Petition stands dismissed.
3. Pending application(s), if any, shall stand disposed of.
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